The government of Canada will invest through its P3 Canada Fund up to $66 million in the Saskatoon North Commuter Parkway Project, according to a statement.
The Province of Saskatchewan will contribute another $50 million to the project, which is called the North Commuter Parkway and Traffic Bridge Replacement, the statement said.
The project involves the replacement of the 107-year-old Traffic Bridge in the city’s downtown core, the development of a new bridge crossing in the city’s north end, as well as connecting roadways.
Once the Parkway and two bridges are opened, traffic congestion will be reduced and travel times will be shorter for vehicles and public transit, resulting in reduced greenhouse gas emissions and improved air quality, the statement said.
The investment was announced at an event by Finance Minister Joe Oliver and Minister of Agriculture and Agri-Food, Gerry Ritz.